AviLease Secures A320neo Deal with Turkish Airlines
Saudi-owned aircraft lessor AviLease has announced the closing of a significant deal to lease eight Airbus A320neo aircraft to Turkish Airlines, marking another milestone in the expanding relationship between the two companies. The agreement, which was made public on April 7, 2025, sees two of the A320neo jets already delivered to the Turkish flag carrier, with the remaining six scheduled to arrive throughout the remainder of the year. Although further transaction details have not been disclosed, the leasing arrangements have been confirmed as long-term, supporting Turkish Airlines’ plans to modernize its fleet and achieve its strategic growth objectives.
In a statement released by AviLease, Chief Executive Officer Edward O’Byrne emphasized that the new aircraft will play a crucial role in supporting Turkish Airlines’ expansion plans, as well as contributing to the airline’s ongoing efforts to upgrade its fleet and meet sustainability targets. O’Byrne noted that the A320neo is well-suited to Turkish Airlines’ operational requirements, offering improved fuel efficiency, lower emissions, and enhanced passenger comfort, all of which align with the airline’s goals for a greener, more cost-effective future. The decision to incorporate these aircraft into its network comes at a time when Turkish Airlines is actively pursuing capacity expansion and fleet modernization, aiming to strengthen its position in the global aviation market.
AviLease, which is owned by Saudi Arabia’s Public Investment Fund, has rapidly emerged as a key player in the aircraft leasing industry since its foundation in 2022. Despite its relatively recent entry into the market, the company has demonstrated a strong determination to become one of the top 10 aircraft lessors worldwide. In 2023, AviLease made a strategic acquisition by purchasing the aircraft leasing business of international bank Standard Chartered for $3.6 billion, a move that boosted its portfolio to 167 aircraft at the time. As of April 2025, the company’s portfolio has grown to 200 aircraft, which are currently leased to around 48 airlines across the globe. This impressive expansion reflects AviLease’s commitment to providing competitive leasing solutions and driving innovation in the aerospace sector.
Turkish Airlines, meanwhile, has been actively engaged in signing new agreements with aircraft lessors as part of its ambitious strategy to expand capacity. The carrier is working to double its fleet size to 800 aircraft by 2033, a goal that will require continuous investment in modern, fuel-efficient aircraft. In recent years, Turkish Airlines has inked deals with several international lessors, including a transaction for six Airbus A321neo aircraft with Singapore-based BOC Aviation in November 2024 and an agreement in December 2024 to lease five additional aircraft from SMBC Aviation Capital, the leasing arm of the Japanese-owned SMBC Group. These moves are part of a broader initiative to not only grow the airline’s fleet but also to ensure that its operations remain sustainable and competitive in an increasingly challenging market.
The new deal with AviLease reinforces Turkish Airlines’ strategy to invest in next-generation aircraft that offer improved efficiency and environmental performance. As the airline continues to expand its network and modernize its fleet, partnerships like this one with AviLease are expected to drive both operational improvements and long-term financial performance, ensuring that Turkish Airlines remains at the forefront of the global aviation industry.
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